Franco and jason share income and losses in a 21 ratio, Financial Accounting

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Franco and jason share income and losses in a 21 ratio

Franco and Jason share income and losses in a 2:1 ratio after allowing for salaries to Franco of $15,000 and $30,000 to Jason. If the partnership suffers a $15,000 loss, by how much would Jason's capital account increase?

a. $25,000

b. $10,000

c. $20,000

d. $40,000

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Financial Accounting: Franco and jason share income and losses in a 21 ratio

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Financial Accounting: Franco and jason share income and losses in a 21 ratio

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